Personally I believe the drop in price is due mostly to people selling without knowing why they're selling. People see news and sell, without even understanding what the news means or even if the news is real or valid. I've been buying as much as I can afford recently because I see no reason for the drop.

Even if there was a good reason for the drop, I'd probably still be buying because I'm always bullish long on Bitcoin. I believe most people that are on these forums are too however, so it can turn into kind of an echo chamber in here.

As you all know, its the sea of red now. Are any of you still ballsy enough to enter at this challenging time?for me im just waiting for USD 3600 to sell off my house and car and kids to enter.

Omg! That's hilarious haha i like the pun. Selling off your house and car together with your kids, how about selling off your wife/husband as well? Kidding aside, this is definitely the best time to stock up and buy some btc if you have the fund. We know the drill, right? I don't know about those who are panic selling but we know better. This scenarios are normal and we've been here before. Having experienced those unbelievably highest value of btc like a whirlwind, drop like this is pretty much expected.

As you all know, its the sea of red now. Are any of you still ballsy enough to enter at this challenging time?for me im just waiting for USD 3600 to sell off my house and car and kids to enter.

Come on this is cyripto currency ecosystem you should not invest with all of your assets, consider will you be sad if you loose all if your answer is yes then it is better to invest the amount if you loose you wont be sad. This is how I invest.

When you buy a bitcoin, you are essentially buying a number in a Chinese database. The Chinese miners control a majority of the hash rate and thus control all bitcoin transactions. If they want to block a specific wallet from transactions forever, they can by simply never processing transactions from that address.

To make money, you need someone to buy your number for a higher price. The moment you buy, your money is gone and sent to someone else. Bitcoin itself has no value, your only hope is to sell it to someone else in the future. For someone else to buy your bitcoins, they need money and need to be willing to spend it on bitcoins.

There are people with millions of dollars in bitcoins. When they sell, they need to find someone with millions of dollars to buy those bitcoins and who are willing to buy them at the current price.

All you need is one person with millions of dollars in bitcoins to sell and the price tanks. That is what happened with Ethereum a couple months back. The price dropped to near zero as someone with millions of dollars in Ethereum tried to sell out. They weren't able to sell as as the price dropped to near zero as they couldn't find enough buyers.

The best thing for the people who own lots of bitcoin to do if they want to sell is to sell slowly over time. This means the price doesn't drop all at once, it drops slowly day after day, week after week. If you have multiple people trying to sell large amounts of bitcoin, they tried to sell faster than the other people so the drop can happen faster.

In any case, the price can go down and not recover. If you had a billion dollars in bitcoin and you wanted to sell, it would take you years to sell and during that time, the price would keep dropping. And if someone else was trying to sell a billion dollars of bitcoin at the same time, the price would drop even harder.

And if you had a billion dollars in bitcoin you were selling, you'd want people to believe the price will never go down and they should hold so you can sell before they do.

The good old days when it was $600 about 12 mths ago, can it fall back there again, ill sell it all and borrow everything to buy in there if only. but I know the bitcoin community might rush the price back up if it hits a mere 3000 hopefully it falls fast enough so people dont act if it falls slowly it wont make it to $3600.

for me im just waiting for USD 3600 to sell off my house and car and kids to enter.

I'm pretty sure you're not telling the truth (selling your kids? WTF? I hope that's only a "joking" way to tell you want to invest some money.). But if you really are serious about that, be careful.

I would only invest at $3600 if I was an experienced trader and could foresee the bounces (maybe knowing which bots are the big whales using and what chart indicators they follow ). Because myself I think the price will fall further - not straight to the bottom as a rock would, but I think we have a good chance to see $3000 again. And at that level, I think the price will take a decision if he wants to continue to be bullish or not.

So at $3000 I maybe would try a "catch" ... carefully observing the market.

I think we should be careful to respond to what's happening now. there are ico restrictions, and other rumors that trigger the decline in bitcoin prices. this kind of scenario that has been arranged neatly.

As you all know, its the sea of red now. Are any of you still ballsy enough to enter at this challenging time?for me im just waiting for USD 3600 to sell off my house and car and kids to enter.

I guess you have to wait further than as at the current time, the price is still far from reaching that point and I still believe it won't get to that point before price picks up again. So if you can add about $300 or $400 to it you can quickly buy when that amount can get you one before it goes to the point where you might not be able to afford it.

Just don't catch that knife with emotion just use your mind to catch it . The situation of the market is indicating towards a downfall of price. Lets see how low it fall. We have seen that bitcoin is strong enough to hit back.

Why not? I seee this as an opportunity to buy my favorite coins while they are on dump I guess China ICO ban has something to do with the fall happening but then as they said thats temporary so theres still achance for a pump sooner or later so ill buy as much alts and btc while its falling and wait for the next pump.

Bitcoin is pumping now son !! To the moon that's where. Let's leave china behind. You might never get another chance to buy bitcoin at this price. It's never going back under $1000 let's face the facts and not repeat them. Now is the time to buy otherwise we sit and look back to today with regret. People are going to make alot of money. Those who predicted the weak would sell because of the nonesense in China will now buy back and pump the price up in soon so. Profit ! A mo the salary because of one clever move. Thanks China and thank you to, I think for the third time the panic sellers without you I would not have profited.

I don't care much about these. People were saying the same even in 2016, when the prices hit almost $200 per coin. A lot of the users sold their coins as they were convinced that the prices will never recover. But those who had the patience to wait for some time benefited in the end. And I don't think that the situation will evolve any differently this time around.

Just don't catch that knife with emotion just use your mind to catch it . The situation of the market is indicating towards a downfall of price. Lets see how low it fall. We have seen that bitcoin is strong enough to hit back.

Just my opinion. Sometimes waiting for things to happen may result in losing a good opportunity. So setting a target is a good idea.

As you all know, its the sea of red now. Are any of you still ballsy enough to enter at this challenging time?for me im just waiting for USD 3600 to sell off my house and car and kids to enter.

if I think so strongly and good idea for those who want to chase bitcoin, while continuing dumping now. and a good time to buy and stock up some bitcoins and hold them. I'm pretty sure after the dipo will try to recover and get back its value ... it's time to invest bro ....

Why not? I seee this as an opportunity to buy my favorite coins while they are on dump I guess China ICO ban has something to do with the fall happening but then as they said thats temporary so theres still achance for a pump sooner or later so ill buy as much alts and btc while its falling and wait for the next pump.

Do you know about any site which shows correltion bitcoin and other altcoins?